Mortgage App Fraud On the Rise

Mortgage App Fraud On the Rise in Daily Dose, Data, News, Origination September 13, 2018 813 views Fraud risk is up, according to the latest CoreLogic mortgage fraud report. According to the report.

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Borrowers will go through the application and claim the subject property is a primary residence, rather than an investment property. Pricing for primary residences is generally more favorable than that of investment properties, and occupancy fraud is on the rise due to the surge of interest in rental properties and house flipping.

According to CoreLogic’s latest Mortgage Fraud Report, there was a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter of 2018, as measured by the corelogic mortgage application fraud Risk Index.

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The risk of fraud in mortgage applications increased 16.9% in the second quarter compared with the second quarter of 2016, according to CoreLogic’s Mortgage Fraud Report. The increase is expected because applications for purchases now make up a greater share of total applications, due to the fact that refinances have been falling due to higher mortgage rates.

WASHINGTON – Fraud in connection with home mortgages is on the rise, ranging from little white. rental home investors get charged more. Application fraud was found in one of every 122 mortgage.

Bridget Berg, the Senior Director of Fraud Solutions Strategy, says that as credit requirements loosen and LTVs on loans continue to rise, mortgage application fraud is going to continue to increase. Loan funding is getting more and more competitive.

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Mortgage Fraud on the Rise More mortgage loan applicants are committing mortgage fraud by lying on their applications. Experts say a tight lending environment is to blame. Fraud in Loan Apps Up in February

Mortgage application fraud is on the rise By Joanne Atkin in Features , Fraud 8th april 2013 0 cifas has published its latest Fraudscape report showing where the shifts in different types of fraudulent activity are occurring.

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Rapid changes in the payments industry, the meteoric rise of e-commerce and the constant threat of fraud have led the.

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